Monthly Archives: September 2013

REVENUE MEMORANDUM CIRCULAR NO. 57-2013 (August 23, 2013): RECOVERY OF UNUTILIZED CREDITABLE INPUT TAXES ATTRIBUTABLE TO VAT ZERO-RATED SALES

Unutilized creditable input taxes attributable to zero-rated sales can only be recovered through the application for refund or tax credit. The BIR shall disallow the treatment of unapplied input taxes as a deductible expense for income tax purposes.

Full text here.

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